Pune,India, July 27, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Medical Laser Market size was valued at USD 5.05 billion in 2022 and is projected to grow from USD 5.57 billion in 2023 to USD 13.17 billion by 2030, exhibiting a CAGR of 13.1% during the forecast period.
The market for medical lasers is experiencing growth due to their non-invasive nature and effective treatment capabilities, resulting in rapid healing without scarring or discolouration. Increasing demand for treating various diseases and the rising preference for non-invasive treatments are driving factors behind this market’s growth. Fortune Business Insights presents this information in their report titled "Global Medical Laser Market, 2023–2030."
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Key Industry Development
June 2023 – Iridex Corporation launched its next-generation PASCAL Laser with MicroPulse in the U.S., expanding its brand presence in the country.
Key Takeaways
- The demand for minimally invasive and cosmetic procedures is driving the growth of the medical laser market.
- Laser therapy is an effective treatment option for various diseases, leading to its increasing adoption.
- Developing countries are experiencing a growing demand for aesthetic laser procedures, contributing to market growth.
- Advanced technologies in skincare and dermatology, such as minimally invasive anti-ageing treatments, are expected to drive market growth.
- The increasing number of eye disorder cases and the use of laser systems for non-invasive surgeries are anticipated to contribute to market growth.
Discover the Leading Players Featured in the Report:
“Companies leading the Global Medical Laser Market are El.En. S.p.A. (Italy), Lumenis Ltd. (U.S.), BIOLASE, Inc. (U.S.), Lumibird Medical (France), Candela Corporation (U.S.), Sisram Medical Ltd. (Israel), IRIDEX Corporation (U.S.), Topcon Corporation (Japan), Cynosure Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 13.1% |
| 2030 Value Projection | USD 13.17 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 5.57 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 142 |
| Segments Covered | By Type, Product, End User, and Region |
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Drivers and Restraints
Rising Prevalence of Eye Disorders and Increased Adoption of Cosmetic Surgeries to Propel Growth
The medical laser market is witnessing growth due to factors such as the increasing demand for minimally invasive procedures, the rising prevalence of eye disorders, and the demand for growing cosmetic surgeries. The market is also boosted by the introduction of new lasers with innovative technology and the entry of new players offering advanced systems.
However, the adoption of laser surgery procedures is limited due to the high associated costs and complications that restrain the market's growth.
Segments:
By Type
- Surgical Lasers
- Dental Lasers
- Aesthetic Lasers
- Others
By Product
- Laser Systems
- Consumables
By End User
- Hospitals
- Specialty Clinics
By Geography
- North America
- Europe
- Rest of Europe
- Asia Pacific Southeast Asia
- Rest of Asia Pacific Latin America Middle East & Africa
Regional Insights
North America Dominates the Market with High Demand for Minimally Invasive Procedures
North America Medical Laser Market growth is led due to the rising demand for minimally invasive processes, high preference for cosmetic treatments, and the adoption of novel technologies, primarily in the U.S. The region’s valuation was at USD 2.13 billion in 2022.
Asia Pacific is the second largest market and is expected to witness rapid growth due to incipient healthcare infrastructure, increasing laser centres, and rising demand for aesthetic laser treatments.
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Competitive Landscape
Dominant Players Expanding Offerings, Geographic Reach, and Distribution Channels for Market Growth
The global market’s competitive landscape is semi-consolidated, with dominant players leveraging their well-established brand presence and strong product portfolios. However, other key companies are expanding their offerings, particularly in the cosmetic lasers sector, and are focused on geographic expansion and strengthening distribution channels to increase their market share in the projected period.
FAQs
How big is the Medical Laser Market?
The Medical Laser Market size was USD 5.57 billion in 2023. It is expected to reach USD 13.17 billion by 2030.
How fast is the Medical Laser Market growing?
The Medical Laser Market will exhibit a CAGR of 13.1% during the forecast period, 2023-2030.
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